WPG (TWSE:3702) Announced Its 100% Owned Subsidiaries World Peace Industrial Co., Ltd. and Yosun Industrial Corp. Board of Directors Approved the Spin-Off Transaction on Febuary 21th, 2017
WPG(TWSE:3702) announced Its 100% owned subsidiaries World Peace Industrial Co., Ltd. (“WPI”) and Yosun Industrial Corp.(“Yosun”) Board of Directors approved the spin-off transaction on Febuary 21th, 2017. Yosun will transfer Texas Instruments product line to WPI by spin-off, all operations, assets and liabilities will be generally assumed by WPI shall issue new shares as the consideration for acquiring Texas Instruments product line.
The estimated business value is NT$2,429,908 thousands, based on the book value on Yosun's unaudited financial statements as of December 31, 2016. WPI shall issue 116,152 thousand common shares to the Compan. The record date of the spin-off is scheduled on April 1st, 2017.
The purpose of the spin-off transaction is subject to vendor's distribution channel strategic and via business adjustment to strengthen the overall competitiveness and performance. The transaction is intra-group adjustment, therefore the net worth per share and earnings per share of WPG would not be affected.
IR contacts：Cliff Yuan/ Zoe Peng
Tel：886-2-7712-5268 / 886-2-7712-5262
Email address: ir@WPGholdings.com
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